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Small Business Forum: Implications of Book versus Tax Based Patronage in Agricultural Cooperatives
Originally published in The Cooperative Accountant, Summer 2021 Issue IntroductionA book tax difference (BTD) is the difference between book income and taxable income in a given period. BTDs arise from various accounting items that are recognized differently depending on the income basis in consideration. Taxable income represents the amount of income that is subject to taxation in accordance with IRS tax code and other statutes. Book ...
Read MoreBest Practices: Ways to Manage Workplace Conflict Better
Conflict in the workplace is unavoidable. Here are nine tips to help you best navigate workplace disagreements. 1. Avoid editorializing and exaggerating during the discussion. Focus on the facts as well as potential solutions. It’s about the end game, not how you got to where you are. 2. Conduct individual chats. Then strategically attempt to identify common interests and expectations. 3. Create opportunities for healthy conflict.
Read MoreACCTFAX Summer 2021 Bulletin Board
Originally published in The Cooperative Accountant, Summer 2021 Issue ASB PROPOSES TO IMPROVE AND EXPAND HEDGE ACCOUNTINGOn May 5, 2021, the Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update (ASU) intended to better align hedge accounting with an organization’s risk management strategies. Stakeholders are encouraged to review and provide comment on the proposed ASU by July 5, 2021. In 2017, the ...
Read MoreUtility Cooperative Forum: Do the Benefits of Underground Power Lines Outweigh the Costs?
Originally published in The Cooperative Accountant, Summer 2021 Issue Overview:America’s reliance on electricity has continued to grow. Disruptions in electric service from weather events or natural disasters have tended to repeatedly prompt the seemingly logical next question “does it make sense to underground (UG) power lines to help minimize outages?” Additionally, there has been a continuing trend for the ...
Read More5 Trends to Watch During the Pandemic Recovery
The economic recovery from the COVID-19 pandemic will be different from the recoveries that followed past recessions, Marci Rossell told AICPA governing Council members. Economic downturns typically originate in a sector such as housing, finance, or manufacturing and ripple through the economy from there, said Rossell, an economic forecaster and former chief economist at CNBC.
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